Ripple to invest US$100 mln for carbon removal in race to zero emissions

ByJosephine J. Romero

May 20, 2022 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
carbon


Blockchain-centered payments network Ripple announced its plans to invest US$100 million in local climate-targeted fintechs and carbon elimination technologies for the modernization of carbon marketplaces, the firm stated in a push launch. 

See related report: How blockchain is solving the local climate disaster

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  • The funding will also keep on to assistance new performance and developer equipment that permit carbon credit score tokenization as non-fungible tokens (NFTs) on the XRP Ledger (XRPL).
  • Ripple said it will create a portfolio of additive, lengthy-term, nature and science-dependent carbon credits, some of which will be employed to meet up with its individual determination to be carbon internet-zero by 2030.
  • According to the 2015 Paris Accord, 196 parties have committed to decreasing world warming down below 2°C, which needs 2010 world carbon dioxide emissions stages lowered by 45% by 2030
  • Blockchain and crypto, with innate traits of transparency, verification and scalability, can enable address numerous of the market’s biggest obstructions to progress and efficacy, Ripple stated in its statement.
  • Ripple co-established the Crypto Weather Accord in 2021, which has enlisted over 500 members.  

See similar write-up: OCBC Financial institution joins MVGX in force to support firms go carbon neutral



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